Harold L. Sirkin

Extensive operations experience across a wide range of topics and industries, in all regions. One of the biggest challenges companies face is striking a balance between cost and service. Cash-strapped companies may be tempted to outsource out of panic. Instead, they should take the time to understand the implications and make sure that they're working with the right partner.

More than 80 percent of U.S. consumers say that they’re willing to pay surprisingly high premiums for everything from cell phones to baby products made in the U.S. rather than in China. Retailers and manufacturers should seize this opportunity—and the place to start is with communications.

Today's manufacturing skills gap in the U.S. is more limited than many people believe. But unless action is taken now, more severe shortages could develop, threatening to constrain a U.S. manufacturing resurgence. It is time for companies, schools, and nonprofits to step up training of a new generation of skilled talent.

The U.S. manufacturing sector could capture up to $130 billion in annual exports from other nations by 2020, largely owing to labor and energy cost advantages over Western Europe and Japan. Combined with production “reshored” from China, the higher exports could create up to 5 million new American jobs.

U.S. manufacturing is becoming more competitive compared with both industrialized nations and low-cost nations like China. High productivity, rising costs abroad, a weakening dollar, and a greater focus on the total costs of production could enable the U.S. to add around $100 billion in manufacturing output over the next decade.